“Initially we were one of the few that did not do a short term waiver, we came out very aggressively at a low fee right from the start and I had always thought that that was the right level to be at but I think our thinking was that historically with ETF launches, the short term waivers have not gone over that well and frankly, they can be a little confusing, and maybe have a lack of transparency as to how they work,” said Kyle DaCruz, director of digital assets products at VanEck.